Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1887-01-08

numbers Of citizens who had implicit
faith IN its honor The hard earnings
OF the iarmcr, lawyer, mechanic and
the boarded savings OF the poor widow
were placed in its vaults for sale keep,
ing But alas what Is the end OF ts
all? Time passed, and civil war Iashed
the peoples passions into gale, and
red carnage held high carnival. The
Bank officers, with strict fidelity TO
their trust held watch and ward over
treasures placed in the safe keeping OF
the State. And elsewhere, rs at Som
eryille, when the orders came 10 turn
over the funds to The military, il was
done. But still the watchfu guardians
followed tile destinies OF the sacred de-
posits, and finally just before the bubble
of the Coniederacy burst, they were de-
liyered in safety TO the proper State au-
thorities ut Nashville. From that
time they became merged as it were
into the State and we're used for the
legitimate purposes of carrying on it's
governmental machinery, or wasted by
the unfaithfulness of its guardians
There have been several charters
granted for State Banks The Legis-
lature in the years 1911, 1888 and
1858 chartered banks, adding various
restrictions upon note holders and de-
positors, but they were all totally differ
ent from the Bank OF Tennessee, organ
tzed uWder the act OF 1888.
Years have elapsed since this old
Bank was established, During this
period many changes have taken place
in the government, both State and
national. War with its vicissitudes has
swept over the State, and carried into
its capacious NAV many Thousand OF
dollars of our peoples money. But
the depositors in the State Bank rested
upon their oars and trusted Ia the
lFhonor OF the State that the funds placed
lin her charge were safely deposited
Among otirer debts considered sacred,
the State has provided for payment Sf
over forty millions which were trsn-
ted with fraud and rascality, and ,%sO
for the payment Of millions OF new and
old issue notes of the Rank OF TeHnes-
see, the larger proportion 1T which WIS
bought up by spectators for about one
cent on the dollar. This indebtedness
was largely owned 10y menFed rnen out
of the State, who Joined together, EN-
ployed able attorneys, lobbyists and
legislative manipulators who hanally
obtained a Just restitution Cor their
money, and has now been provided for
largely in excess OF what they originally
paid for their claims. Bat the deposltor
has never been paid anything for the
money he placed la the State BsRt1 and
for the repayment of which he trusted
its honor and faith. This is the Dor
rowed fund on which the Banlz did its
large and lucrative business, and every
dollar of which after the concern was
wound up went into the treasury Of the
State and was used dor her eole use and
benefit. During the time theibank was
in operation the revenue derived from
the loan Of the deposits materially aided
in running the governmental nlachinry.
State bonds have been tainted with
fraud Torbett issue notes have the
smell and odOr of speculation, but the
/ depositors claim Is as pure aSthe driven
snow. For their hard earned dollars
trusted to the State they have received
| mourning. nc NfEc pIopd'aOH vi Jlls
Indebtedness is held inside of the State
and by her own citizens. Here in
Fayette county, over Sl00,900, is held
by various persons, and gh'nce at the
list would show that the major portion
will go to widows and orphaEes and men
who are poor and in INDECENT circum-
stances.
The debt is just. 1t is debt OF
honor which the representatives of the
state should endeavor to find some way OF
| liquiditing. 1t is OF higher equity than
that Of the bond or note holder Money
intrusted to another man ina fiduciary
capacity subjects that individual in de-
fault of payment from any cause to a
criminal suit for conversion of trust
funds. Money loaned and note taken
when not repaid carries with it no
criminality The State has paid the
note holder OF her bank, whose assets
she absorbed, but until now has refused
to make restitution of that higher and
more sacred fund deposited with her
for safe keeping Until this debt
owed as il were within her own bosom
is paid, the faint of injustice, and re-
pudiation will cling to the purple robes
Of the State-RepOrter and Fdlco1e.